In Singapore, kryptolebias will help to negotiate with banks
Head of the Central Bank and Monetary authority (MAS) of Singapore, Ravi Menon stated that he intends to establish the relationship between banks and cryptocurrency companies.
During the interview, he said that plans to develop a balanced legal framework for the regulation of kryptonyte. For this you will need to assemble representatives of banks and startups together to discuss a compromise solution for their cooperation. Ravi Menon added that this type of business has a number of specific features, so classic financial institutions, you may have to find new ways of determining the good faith of the clients.
In recent years, Singapore has formed a fairly favourable climate for the activities of FINTECH companies, and official representatives expressed support for blockchain technology and operation of a cryptocurrency. This attitude has led to the fact that in August of the current year in the jurisdiction of the tiny country for the first time spent more ICO than in the United States and major crypto currency exchange plans to open local offices.
However, Ravi Menon, as before, to exercise restraint in respect of kryptonyte and does not condemn the banks for a denial of service startups, because the behavior of some companies, do doubt. He also hopes that when the hype surrounding virtual currencies to be held, then fair projects will be cheap and fast international transfers.
Another Asian tiger, South Korea, and gradually begins to reconsider its attitude to the stock market and is approaching the legalization of ICO.